Aptos has burned approximately 174,570 APT tokens over the past 30 days, according to its supply dashboard. While this may seem like a significant reduction in supply, the network's gross staking issuance stands at about 1.5 million APT per month. After accounting for the burns, the net new supply still amounts to roughly 1.4 million tokens monthly.
The burn mechanism in Aptos permanently removes tokens from circulation through transaction fees, unlike fees paid to validators. However, the low average transaction fee of around $0.0006 means that substantial transaction activity is necessary to burn a meaningful portion of the token supply.
The relationship between burn rates and issuance is crucial for understanding token economics. While burns reduce issuance, they do not make APT deflationary given the current issuance schedule. Market price depends on various factors, including circulating supply, unlocks, demand, staking, and broader market conditions.
Aptos's burn rate is measurable, but the issuance remains larger. Investors should focus on the balance between these two figures rather than the burn rate in isolation.